Devon Self Storage Adds 32 Assets To Its Portfolio

Devon Self Storage, a member of The Inland Real Estate Group of Companies, Inc. , has assumed the property management contracts for 32 self-storage properties. Their locations and number of properties, which total approximately two million square feet, are as follows:

• Louisiana (9)
• Mississippi (8)
• North Carolina (4)
• South Carolina (5)
• Texas (6)

The facilities will be integrated onto the Devon platform, including being added to www.devonselfstorage.com, where customers can address their storage needs.

“We are thrilled with the rapid growth of our self-storage management portfolio since becoming a member company of Inland and leveraging the synergies of the Inland platform,” commented Ken Nitzberg, Co-CEO of Devon. “The addition of these 32 properties increases our owned and managed portfolio by 27 percent, to more than 150 properties, and we remain committed to doing what we do best -- providing best-in-class self-storage services and operational efficiencies for customers and owners.”

The average occupancy of the 32 new facilities is approximately 83 percent, bringing the total units owned and managed across the portfolio to more than 86,000. Devon currently manages 152 properties for approximately a dozen property owners across the nation.

Further Reading:

Dynamic Alliance: Devon Self Storage & Inland Join Forces